27-story First Hill apartment tower approved

Seattle city planners on Thursday approved a 27-story apartment tower on First Hill. But a spokesman says the developer, Swedish pension fund Alecta, hasn’t yet decided whether to start building soon or wait.

The 328-unit project would be built at Terry Avenue and Jefferson Street.

Longtime Seattle developer William Justen, who is overseeing the project for Alecta, said the company probably will make a construction decision in the next couple months.

Seattle is in the middle of its biggest apartment-construction boom in more than two decades, and some warn the market is getting overbuilt.